Mixed-Use

Trez Forman Provides $115M Construction Loan for Camperdown Square Mixed-Use Project in Downtown Greenville

by Alex Tostado November 11, 2019

GREENVILLE, S.C. — Trez Forman has provided a $115 million construction loan for Camperdown Square, a mixed-use development that is 40 percent built in downtown Greenville. The borrower, Centennial American Partners, is developing Camperdown Square, which is situated on 3 acres adjacent to the Greenville News building at the intersection of South Main and Broad streets. The developers broke ground on Phase II in January on Falls Tower office building within Camperdown Square. In May, coworking firm Spaces signed a 28,900-square-foot lease within Falls Tower. At full buildout, the project will include the 17-story Falls Tower, a 609-space parking garage, a 194-room AC Marriott hotel, 113,475 square feet of retail space and a 217-unit multifamily building. Brett Forman of Trez Forman originated the loan on behalf of the borrower.

November 11, 2019

Market Reports Michigan Midwest Midwest Market Reports Mixed-Use

Why Invest in Grand Rapids: Lifestyle, Job Market and Affordability

by Kristin Harlow November 7, 2019

While most national investors and developers focus on larger Sun Belt and coastal markets such as Austin, Atlanta, Nashville and Phoenix, Time Equities has had great success investing in Grand Rapids and continues to believe strongly in the future potential of the area. As an opportunistic company, we often go where others do not, looking for markets and assets with strong risk-adjusted returns. Grand Rapids provides such an opportunity. The small city has been ascendant for the past decade and has a bright outlook. Its population and job growth equal many of the fastest-growing markets in the Sun Belt. Its economy is bolstered by large medical and education employers supported by impressive charitable contributions from the region’s wealthy families. In addition, the city also boasts a diversified economy with manufacturing, breweries and white-collar employment. And most importantly, it’s home to a burgeoning young and educated workforce. Grand Rapids’ combination of lifestyle, job market and affordability make it a regional draw. Grand Rapids experienced population growth of 41 percent from 2010 to 2017, compared with 22 percent for the Nashville metro area and 19 percent for the Dallas metro area. This growth was aided by a net migration of 31,285 people. …

November 7, 2019

Development Mixed-Use North Carolina Southeast

Eco Group Breaks Ground on $350M Mosaic Development Near Raleigh-Durham

by Alex Tostado November 6, 2019

PITTSBORO, N.C. — Eco Group, a joint venture between Kirk Bradley of Lee-Moore Capital Co. and John Fugo of Montgomery Carolina LLC, has broken ground on Mosaic, a $350 million mixed-use development spanning 136 acres and located 30 miles southwest of Raleigh-Durham. Phase I of Mosaic will include developing 44 acres at the cost of $180 million and is expected to be complete in 2023, although Eco Group plans to open Mosaic to the public in 2020. Town Hall Burger & Beer, People’s Coffee, Aveda Day Spa & Salon and UNC Urgent Care have all signed leases at Mosaic. At full build-out, the development will feature 200,000 square feet of local and regional retail space, restaurants and services including a micro-brewery and chef-driven and fast casual dining; a 114-key flagship hotel; 164 apartment units; 88,000 square feet of technical and creative office space; 10,000 square feet of educational space; 30,000 square feet of recreational and civic amenities featuring an eight-screen cinema, 350-seat live performance theatre, and 100-seat black box theatre and central green with outdoor stage. In addition, 25 percent of the project will be dedicated to open space framing the development with gathering spaces, walking and biking trail, ponds …

November 6, 2019

Development Industrial Mixed-Use Texas

Mesquite City Council Approves Plans for 652-Acre Mixed-Use, 80-Acre Industrial Projects

by Taylor Williams November 6, 2019

MESQUITE, TEXAS — The Mesquite City Council has approved plans for the development of Spradley Farms, a 652-acre mixed-use project that will feature more than 2,500 single-family homes and commercial components. The government body also approved Urban District 30, an 80-acre industrial development. Urban Logistics Realty is developing the $71 million industrial project, which will include five buildings spanning 979,000 square feet and is expected to generate between 500 and 1,000 new jobs. A groundbreaking ceremony for the project was held on Monday, Jan. 13, 2020, and completion of the project is scheduled for the third quarter of 2020. Stream Realty Partners will handle leasing of Urban District 30. Other project partners include MYCON General Contractors and GSR Andrade Architects.

November 6, 2019

Development Mixed-Use Texas

GID Breaks Ground on Phase II of Regent Square Mixed-Use Project in Houston

by Taylor Williams November 5, 2019

HOUSTON — GID Development Group has broken ground on Phase II of Regent Square, a mixed-use project located at West Dallas and Dunlavy streets near Buffalo Bayou Park in Houston. Designed by Boston-based architecture firm CBT, Phase II will consist of 50,000 square feet of retail space, a 600-unit apartment building and activated community space. The retail space is expected to be available for occupancy by the first quarter of 2021, and the residential component is slated to be complete by the third quarter of 2021. Phase I of the project was completed in 2014. Arch-Con is the general contractor, and JLL is handling leasing of the retail space.

November 5, 2019

Development Kentucky Mixed-Use Southeast

Churchill Downs Plans $300M Expansion, Including New Hotel and More Seating

by Alex Tostado October 31, 2019

LOUISVILLE, KY. — Churchill Downs Inc. will invest $300 million to add 5,500 reserved seats, a 156-room hotel and 900 historical racing machines at Churchill Downs, home of the annual Kentucky Derby horse race in Louisville. A historical racing machine is an electronic gambling system that allows players to bet on horse races or dog races that have already been run. The seven-story hotel will include 900 historical racing machines, a 27,000-square-foot ballroom, dining room overlooking the track, 92 trackside suites, four trackside presidential suites and multiple dining options. The project is expected to create 600 construction jobs and 300 permanent jobs upon completion. Churchill Downs Inc. expects the expansion to be complete in November 2021.

October 31, 2019

Acquisitions Florida Mixed-Use Southeast

Avison Young Negotiates $16M Sale of Mixed-Use Property in Metro Miami

by Alex Tostado October 31, 2019

CUTLER BAY, FLA. — Avison Young has negotiated the $16 million sale of Centre at Cutler Bay, a 127,072-square-foot office and retail property in Cutler Bay. The fully occupied asset is situated at 18901 SW 106th Ave., 20 miles southwest of downtown Miami. The Centre at Cutler Bay’s tenant base consists of child and adult daycare centers, a career counseling center and offices for accountants, insurance agents and real estate brokers. MMG Centre at Cutler Bay LLC, an affiliate of Miami-based MMG Equity Partners, acquired the property and has the option to develop a standalone building on the east side of the site ideal for up to seven tenants. Rosendo Caveiro, John Crotty, Michael Fay, David Duckworth, Brian de la Fe, Berkley Bloodworth and Emily Brais of Avison Young represented the seller, Cutler Center Holdings LLC, in the transaction.

October 31, 2019

Development Mixed-Use Multifamily Retail Utah Western

Crandall Capital Breaks Ground on The Commons Mixed-Use Project in Park City, Utah

by Amy Works October 30, 2019

PARK CITY, UTAH — Crandall Capital has started construction of The Commons, a mixed-use development in Park City. The project is scheduled for completion in October 2020. Located in the Newpark Towncenter at Kimball Junction, The Commons is the final component of the larger development’s master plan. Totaling, 37,659 square feet, The Commons will feature 38 affordable apartments in a mix of studio, one-, two- and three-bedroom floor plans and 12,500 square feet of ground-floor retail space, as well as outdoor patio and dining areas overlooking Newpark Amphitheater and the 1,200-acre Swaner Nature Preserve. Zwick Construction is serving as general contractor and Stearns Bank provided financing for the project.

October 30, 2019

Loans Mixed-Use Texas

Joint Venture Secures Construction Financing for 66-Story Mixed-Use Tower in Austin

by Taylor Williams October 29, 2019

AUSTIN, TEXAS — A joint venture between Kairoi Residential, Lincoln Property Co. and DivcoWest has secured an undisclosed amount of construction financing for 6xGuadalupe, a 66-story mixed-use tower in downtown Austin. According to the property website, 6xGuadalupe will feature ground-floor retail space, 349 multifamily units and roughly 588,000 square feet of office space. The office component also includes a 35,000-square-foot terrace and 11,500 square feet of amenities including a conference room, tenant lounge and fitness center. Construction is underway with the demolition of the existing Extended Stay hotel on the site set for Tuesday, Oct. 29. Gensler is the project architect.

October 29, 2019

California Development Mixed-Use Multifamily Office Retail Western

Greenheart Land Co. Developing Transit-Oriented Mixed-Use Project in California Bay Area

by Amy Works October 25, 2019

MENLO PARK, CALIF. — Palo Alto, Calif.-based Greenheart Land Co. has topped off Station 1300, a three-story, transit-oriented development in downtown Menlo Park. The development is located less than one block from the Menlo Park Caltrain station San Francisco-based BAR Architects designed the project, which will feature two Class A office buildings totaling 200,000 square feet; a 20,000-square-foot public plaza; 183 multifamily units; and approximately 28,000 square feet of ground-floor retail space. JETT Landscape Architecture & Design is serving as landscape architect. Todd Husak and Jon Moeller of CBRE’s Palo Alto office are the leasing agents for the office portion of the property.

October 25, 2019

Newer Posts

Older Posts